Euro Zone leaders agree to give €100 billion to Spain

Euro Zone leaders have agreed to give 100 billion euro to Spain. Spain will become the fourth Euro Zone nation to receive a European financial bell-out package, after the European finance ministers announced they were prepared to provide up to €100 billion in financial assistance to the country.

Spain is yet to specify the amount it requires to support the needs of its beleaguered banking sector, and a formal request is likely to be made after the results of two independent audits on the banks due by June 21.